Eric Meurice Sells 788 Shares of IPG Photonics Co. (NASDAQ:IPGP) Stock

IPG Photonics Co. (NASDAQ:IPGP) Director Eric Meurice sold 788 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $89.30, for a total value of $70,368.40. Following the completion of the sale, the director now owns 16,491 shares in the company, valued at $1,472,646.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

IPG Photonics Stock Up 3.8 %

NASDAQ:IPGP opened at $86.70 on Friday. The stock’s 50 day moving average price is $87.67 and its two-hundred day moving average price is $94.03. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 16.66 and a beta of 1.17. IPG Photonics Co. has a 12-month low of $80.33 and a 12-month high of $141.85.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The firm had revenue of $252.00 million for the quarter, compared to analyst estimates of $255.53 million. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The business’s revenue for the quarter was down 27.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 earnings per share. Equities research analysts expect that IPG Photonics Co. will post 3.23 EPS for the current year.

IPG Photonics declared that its board has approved a stock repurchase plan on Tuesday, February 13th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 7.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On IPG Photonics

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James & Associates grew its position in shares of IPG Photonics by 1,349.8% in the fourth quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company’s stock valued at $4,872,000 after purchasing an additional 41,791 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of IPG Photonics by 2,136.2% in the third quarter. Schonfeld Strategic Advisors LLC now owns 82,739 shares of the semiconductor company’s stock valued at $8,401,000 after purchasing an additional 79,039 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of IPG Photonics by 70.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 56,965 shares of the semiconductor company’s stock valued at $6,183,000 after purchasing an additional 23,595 shares during the last quarter. Vanguard Group Inc. grew its position in shares of IPG Photonics by 2.9% in the third quarter. Vanguard Group Inc. now owns 3,039,073 shares of the semiconductor company’s stock valued at $308,587,000 after purchasing an additional 85,984 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of IPG Photonics in the third quarter valued at approximately $960,000. Institutional investors and hedge funds own 93.79% of the company’s stock.

Analyst Upgrades and Downgrades

IPGP has been the topic of a number of research reports. StockNews.com lowered IPG Photonics from a “buy” rating to a “hold” rating in a report on Saturday, February 17th. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday. Citigroup dropped their target price on IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a report on Thursday. Seaport Res Ptn reiterated a “buy” rating on shares of IPG Photonics in a report on Thursday, January 25th. Finally, Benchmark dropped their target price on IPG Photonics from $116.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.40.

IPG Photonics Company Profile

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.